Latest news with #WarburgPincus-backed
&w=3840&q=100)
Business Standard
11-08-2025
- Business
- Business Standard
Fusion Finance gains over 4% as Q1 results show asset quality boost
Shares of Fusion Finance, a microloans provider, gained 4.3 per cent on Monday following an upbeat performance in the quarter ended June 2025 (Q1). The stock closed at Rs 154, trimming its year-to-date loss to 11 per cent. The latest rise came on the back of improved financial metrics and operational efficiencies. Fusion Finance saw credit costs decline to Rs 178 crore (2.3 per cent) from Rs 253 crore (2.9 per cent) in Q4 FY25. The gross non-performing asset (NPA) ratio improved to 5.43 per cent from 7.92 per cent in the previous quarter, while net NPA fell to 0.19 per cent from 0.30 per cent. Quarterly net losses narrowed to Rs 92.25 crore, compared to Rs 164.5 crore in Q4 FY25, supported by reduced credit costs and higher net interest margins. 'Q1 performance reflects the early impact of the strategic actions we took last year. Credit costs have moderated, collections remain robust, and our operating model is delivering with greater consistency. With renewed confidence and sharper execution, we are well-positioned to build momentum through the year and drive long-term value creation,' said Devesh Sachdev, Managing Director, Fusion Finance. The company said it disbursed Rs 950 crore in Q1. Its assets under management stand at Rs 684 crore, with approximately 91 per cent secured. Fusion Finance reported a capital adequacy ratio of 29.52 per cent and liquidity of Rs 724 crore as of June 30, 2025. Warburg Pincus-backed Fusion had raised Rs 1,500 crore via a rights issue in January 2025 to strengthen its capital base. Shares of microfinance firms have been under pressure over the past year amid an uncertain outlook.
Economic Times
30-07-2025
- Business
- Economic Times
PE funds vie for a majority stake in medical devices maker Sensa Core
Agencies Founded in 2006 by Ravi K. Meruva, Sensa Core also provides operational support and maintenance services for other electrolyte analyser brands. Mumbai: KKR, TPG, Kedaara Capital, and Multiples Alternate Asset Management are among homegrown and global private equity firms in early-stage discussions to acquire a majority stake in Sensa Core Medical Instrumentation, one of India's leading medical device manufacturers, said people familiar with the matter.A potential deal is likely to value the Hyderabad-based company at about $300 million (about ₹2,600 crore), the people said. They added that the interested PE firms are likely to submit non-binding bids within the next people cited above did not disclose the size of the stake the PE firms are looking to by the Meruva family, Sensa Core is one of the largest domestic producers of in-vitro diagnostic analysers and point-of-care devices. Its key products include blood gas analysers, electrolyte analysers, glucose meters, lactate meters, haemoglobin meters, and cholesterol meters. Investment bank Veda Corporate Advisors is advising the promoters of Sensa Core on the potential transaction. "The said information is baseless, and we do not respond to rumours," said Nagaraju Meruva, executive director at Sensa Core Medical Instrumentation. A KKR spokesperson declined to comment. Mails sent to TPG, Kedaara, Multiples did not elicit any response. Founded in 2006 by Ravi K. Meruva, Sensa Core also provides operational support and maintenance services for other electrolyte analyser FY25, Sensa Core is estimated to have recorded a revenue of about ₹400 crore, and ₹80-100 crore in EBITDA, people said."Medical devices are one of the most attractive sectors for private equity investors," said a PE fund manager evaluating a potential bid for Sensa Core. "Once a strong distribution network is in place and trust is established with doctors, companies in this space tend to generate steady, predictable revenues. Today, Indian medical device manufacturers are on par with global players in terms of quality."India's medtech space is experiencing a surge in investor week, UAE sovereign wealth fund Abu Dhabi Investment Authority (ADIA) took a minority stake in Micro Life Sciences (Meril), a Warburg Pincus-backed firm, for $200 investor KKR, which has been actively investing in the healthcare sector, acquired Healthium Medtech (formerly Sutures India) from Apax Partners in a deal valued at ₹7,000 crore last year. Prior to Apax, TPG Growth held a 75% stake in Healthium. Last year, PE contenders KKR, TPG Capital, and Apax had shown initial interest in acquiring Sahajanand Medical Technologies (SMT), India's largest manufacturer of cardiac stents. However, the deal didn't materialise and SMT is currently preparing for an IPO. SMT counts Morgan Stanley PE Asia and Samara Capital among its investors, with the two collectively holding a 49% stake. India's medical devices industry, valued at $12 billion as of FY24, is projected to grow more than fourfold to $50 billion by 2030. Over the next 25 years, India's global market share in this industry is projected to climb to 10-12% from 1.6% medtech exports reached $3.8 billion in FY24, with the US as the primary market. Despite robust exports, India remains heavily import-reliant, with $8.2 billion in imports, and as much as 80-85% of medical devices sourced internationally, according to a recent EY report. With strategic growth and innovation, India is well-positioned to strengthen its medtech industry and reduce import dependency, making significant strides toward becoming a global leader in the sector, the report said.
Mint
16-06-2025
- Business
- Mint
Retailer Gabe's in Talks to Give Keys to Lenders, Get More Cash
(Bloomberg) -- Warburg Pincus-backed Gabe's is closing in on a debt deal that would hand over control of the discount retailer to some of its lenders, according to people familiar with the situation. The cash-strapped chain and its creditors have been ironing out details of an out-of-court plan that would help shore up its cash reserves, said the people, who asked not to be identified discussing private negotiations. Gabe's has also been looking to cut deals with various landlords and vendors to help bring down expenses, said other people familiar with the matter. A critical element of the company's plan calls for existing term loan lenders to swap their debt for equity into the business, according to some of the people. As part of the deal, lenders would provide as much as $55 million in new money. They are planning to provide $15 million of rescue financing in the coming days, and already extended $15 million last month, said some of the people familiar. There could be another $25 million injection depending on how the concessions coming from landlords and suppliers pan out, they added. Representatives with Warburg and Berkeley Research Group, which is advising the company, declined to comment, while messages left with Gabe's were not returned. The debt talks come as a number of retailers have struggled with liquidity in the wake of President Donald Trump's tariff efforts. At Home Group Inc. filed for Chapter 11 on Monday, and partly blamed the decision on tariff policies. Warburg Pincus acquired Gabe's from Alvarez & Marsal Capital in 2016. Last year, Second Avenue Capital Partners and Ares Management Credit Funds provided Gabe's with a $175 million credit line after the chain bought Old Time Pottery in 2023 in a bid to expand its operational footprint. The retailer operates more than 150 Gabe's and Old Town Pottery locations across 20 states, according to its website. More stories like this are available on
Mint
26-05-2025
- Business
- Mint
Warburg bet on this company three years ago. Now Temasek, ADIA are lining up.
Warburg Pincus-backed Micro Life Sciences Pvt. Ltd is in advanced talks to raise capital from Singapore's Temasek Holdings and the UAE's Abu Dhabi Investment Authority (ADIA) ahead of a planned initial public offering (IPO), three people aware of the development said. 'The current funding round is expected to be around $250-300 million," one of the people cited above said. The company is likely to go public over the next 12-18 months, the second person added. 'The (valuation) ask is around ₹65,000 crore, which is more than 40 times its Ebitda," the third person said, adding the company reported an earnings before interest, tax, depreciation and amortization or Ebitda of around ₹1,300 crore in FY25. All three people spoke on the condition of anonymity. Also read | Temasek-backed Manipal Health eyes a $1 bn IPO, calls banker pitches Temasek, ADIA, and Warburg Pincus declined to comment on Mint's queries, while a response from Micro Life was unavailable until press time. The Vapi, Gujarat-based Bilakhia family founded Micro Life Sciences in 2006. The company has multiple subsidiaries, with the most prominent being Meril Life Sciences. The Bilakhia group, founded by Gafurbhai Bilakhia, is now managed by his three sons, Yunus Bilakhia, Jakir Bilakhia and Anjum Bilakhia. The company operates in healthcare, investment and real estate through its subsidiaries. Individually evaluating 'Investment firms are individually evaluating, and bids are likely to go in next month," the third person added. At a valuation of ₹65,000 crore, Warburg Pincus, which invested $210 million in Micro Life three years ago at a valuation of over $1.8 billion, may be sitting on a fourfold gain in its investment. 'At that value, only a sovereign fund or a state-backed investor can do a deal, given their cost of capital is low," the third person said. Also read | IDFC First Bank to raise ₹7,500 crore from Warburg Pincus, ADIA Meril, a key subsidiary of Micro Life, makes coronary stents, peripheral stents, balloon catheters, and heart valves. Micro Life Sciences reported a total income of ₹3,495 crore in FY24, against ₹2,359 crore in FY23, according to a Care Ratings report dated 8 October, 2024. It reported a profit after tax of ₹333 crore in FY24, against ₹505 crore in FY23. Profit in FY23 included a 'fair value gain of ₹298 crore from the derecognition of JV investment,' Care Ratings said. 'In terms of sales mix, in FY24, Micro earned ~40% of its revenue from cardiac implants (major products: stents, balloon and heart valves), 40% from orthopaedic implants (major products: knee implants, hip implants, and surgical robots) and 10% each from the diagnostic segment and the surgical segment (major products: sutures and mechanical closures)," the note said. The report added that in some segments, the company saw 'stable to marginally higher sales realization", leading to better gross margins. Micro's gross margins improved to 72.80% in FY24 from 64.64% in FY23 on better product mix. Arms in 25 countries The Micro group has subsidiaries in more than 25 countries including Germany, Turkey, the US, Russia, South Africa, Brazil, Bangladesh, Australia, China, and the UK. The company sells its products in over 100 countries directly and through its overseas subsidiaries, with export sales realization being much higher than domestic. Also read | Haldiram's confirms stake sale to IHC, Alpha Wave Global post Temasek deal The Indian medtech ecosystem has seen tremendous investor interest in recent years. In 2024, KKR won a bidding war to acquire Healthium from Apax Partners, while Warburg Pincus invested over $300 million in Appaswamy Associates. Morgan Stanley Private Equity Asia invested ₹1,000 crore in Maiva Pharma, an injectables maker.
Time of India
15-05-2025
- Business
- Time of India
Capillary Tech buys assets of customer loyalty services firm Kognitiv
Capillary Technologies, backed by Warburg Pincus, has acquired assets from the bankrupt Canadian firm Kognitiv, expanding its North American presence and gaining access to over 30 enterprise clients. This acquisition marks Capillary's third in North America as it prepares for a public offering later this year. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bengaluru-based Capillary Technologies , which provides customer engagement and loyalty software services, said that it acquired certain assets of Kognitiv , a Canadian company that helps clients manage their customer loyalty terms of the deal were had last month filed for protection from creditors under the bankruptcy law in the US, after having accumulated liabilities of more than $10 Warburg Pincus-backed Capillary, which is planning to go public later this year, this is its third acquisition in North company derives more than 60% of its revenue from the US market. The deal will give Capillary access to more than 30 enterprise clients including leading hotel companies in Australia and New Zealand, the UK, Middle East and the US, the company said in a news to sources, Capillary is acquiring a part of Kognitiv's assets without taking its debt Reddy, cofounder and CEO of Capillary Technologies, said: 'Kognitiv's expertise in omnichannel loyalty solutions and their presence in North America complements our global expansion strategy.'For the year ended March 2025, the company reported a 24% year-on-year increase in operating revenue to Rs 598 crore. Capillary turned profitable during fiscal 2025, posting a net profit of Rs 13 crore, against a net loss of Rs 59 crore in FY24, as per its annual November last year, ET reported that Capillary revived its plans for a public issue , through which it could raise as much as Rs 2,000 crore. The company had first filed its draft prospectus with the Securities and Exchange Board of India in December 2021 but then deferred the June 2023, Capillary raised $45 million through a mix of equity and debt from investors including Avataar Ventures and its limited partners, in addition to Pantheon, 57Stars and Unigestion. The round was extended in early 2024 to include secondary transactions, during which Warburg Pincus and American Express partially exited. The round finally closed at $140 Technologies was founded in 2008 by IIT-Kharagpur alumni Aneesh Reddy, Ajay Modani and Krishna Mehra. Modani and Mehra have since moved on from the business, leaving Reddy at the helm. In August 2023, the company elevated senior executives Sridhar Bollam and Ananth Choubey to the cofounder company powers backend loyalty programmes for major corporations and conglomerates such as the Tata Group, Aditya Birla Group, Domino's, Shell, and IndiGo.
